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Jan 26, 2013
01/13
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WETA
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i think what we are facing is not simply the debt ceiling. what we are facing is the sequestration, the automatic cuts of a trillion dollars over 10 years, which many republicans are expressing a willingness now to let set in at the end of march. that would mean another fight and struggle. >> all this will unfold in six months probably. not a year from now. he is in a good position to fight for the next six months. >> there was an interesting and little-noticed thing this week. the economic numbers in britain came out where they have had a very tough, brave austerity program, and now they are possibly entering into a triple dip recession. it is an example, perhaps, of too much austerity. france may be an example of too much non-austerity. but if we go through sequester, people will actually see what those cuts mean. i suspect there will be a rebellion over it. >> you could hardly accuse the united states of indulging in too much austerity. we have added $5 trillion of debt in four years. that would be a new definition of austerity. >> i am no
i think what we are facing is not simply the debt ceiling. what we are facing is the sequestration, the automatic cuts of a trillion dollars over 10 years, which many republicans are expressing a willingness now to let set in at the end of march. that would mean another fight and struggle. >> all this will unfold in six months probably. not a year from now. he is in a good position to fight for the next six months. >> there was an interesting and little-noticed thing this week. the...
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Jan 24, 2013
01/13
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MSNBC
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the debt ceiling debacle is postponed until may. the senate is close to a deal to reforming the filibuster. and we of course are waiting for the start of the nominatio
the debt ceiling debacle is postponed until may. the senate is close to a deal to reforming the filibuster. and we of course are waiting for the start of the nominatio
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Jan 24, 2013
01/13
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for spending cuts for every dollar in debt ceiling raised. that is not what you got this time. and you have put the focus on senate democrats, a political tactic, perhaps a very successful one. but is that really a tactical retreat? >> i don't think so at all, chuck. and i was curious to hear steny's comments about this being a gimmick. 86 democrats supported the bill that we had on the floor yesterday, the no budget, no pay, so clearly they didn't think it was a gimmick. this was a bipartisan effort. look, if you look at the goal, we've got to get our fiscal house in order, we've got to balance the budget, and in order to do that, the senate actually has to produce a budget, which they haven't done in nearly four years. the house has had budgets for each of the last two years that actually get to balance. so what we did, in this bill, is to say to the senate, look, you've got to do a budget. families do budgets, businesses do budgets, employers do budgets. the senate has not done a budget in nearly four years, so this is the challenge for th
for spending cuts for every dollar in debt ceiling raised. that is not what you got this time. and you have put the focus on senate democrats, a political tactic, perhaps a very successful one. but is that really a tactical retreat? >> i don't think so at all, chuck. and i was curious to hear steny's comments about this being a gimmick. 86 democrats supported the bill that we had on the floor yesterday, the no budget, no pay, so clearly they didn't think it was a gimmick. this was a...
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Jan 24, 2013
01/13
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and remember the debt ceiling thing that everybody has been fighting about for months. that finally happened today. the stealth story that we have been covering about republicans in the states changing the rules for presidential elections to make it harder for democratic candidates to win, that story moved forward today in a big way, and is getting increasing national attention. there is a lot going on. this was a big news day. we're going to be getting to all of that. but none of those stories were the biggest, most surprising thing that happened on this big, surprising day of news. that story is our lead story tonight, and it starts here. this is a medal of honor ceremony. the highest award our country gives for valor. president clinton here bestowing the medal of honor on vernon baker, whose medal of honor citation explains his acts of extraordinary heroism and daring leadership in an attack on a fortified gothic italian castle in world war ii. by the end of the war, that was considered to be one of the last lines of defense for the nazis. the nazis surrendered in ma
and remember the debt ceiling thing that everybody has been fighting about for months. that finally happened today. the stealth story that we have been covering about republicans in the states changing the rules for presidential elections to make it harder for democratic candidates to win, that story moved forward today in a big way, and is getting increasing national attention. there is a lot going on. this was a big news day. we're going to be getting to all of that. but none of those stories...
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Jan 24, 2013
01/13
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. >>> boehner gets a deal on the debt ceiling. congressman chris van hollen takes us into the funny numbers he had to push. >>> if you want another concord bridge, i got some buddies. >> ted nugent is assembling a moron militia. we'll show you what he is going to be up against. >>> the transaction tax. americans pay it every day on everything we buy. but why doesn't wall street have to pony up? >>> and the latest on the quest for filibuster reform. will the senate actually change the rules and get something done? senator bernie sanders with us tonight. >>> good to have you with us tonight, folks. thanks for watching. if you wanted to know why congress has a record low approval rating, all you had to do was watch the circus on capitol hill today. outgoing secretary of state hillary clinton testified before senate and house committees today about the attack on the u.n. consulate in benghazi, libya. the committee members already have access to the full accountability review board report on the attack, as well as classified intelligen
. >>> boehner gets a deal on the debt ceiling. congressman chris van hollen takes us into the funny numbers he had to push. >>> if you want another concord bridge, i got some buddies. >> ted nugent is assembling a moron militia. we'll show you what he is going to be up against. >>> the transaction tax. americans pay it every day on everything we buy. but why doesn't wall street have to pony up? >>> and the latest on the quest for filibuster reform. will...
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Jan 22, 2013
01/13
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CNBC
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so is the gop about to cave on a debt ceiling deal? we may know a lot more soon. there's a plan floating around washington, stop lawmakers pay if there's no solution on the debt ceiling by the deadline day. >>> and this guy, he's teed off, the golfer phil michakelson tee off over his taxes. and he's not going to take it anymore, or is he? sue herera is live at the new york stock exchange. >> earnings are front and center with j & j, dupont, travelers all out with results. more on them in a few minutes. let's get you ahead of the curve. google is getting ready to report its latest results after the bell. fears about an ad revenue and major focus on those shares. google right now is down 3 bucks on the trading session. john is in silicon valley with what investor s need to know ahead of the numbers. >> couple of important themes this quarter, mobile and mobile. mobile's impacted on the core business. as more people do searches from mobile devices, google's revenue has been coming down. it's more than likely this trend will continue as smartphone and tablet sales spi
so is the gop about to cave on a debt ceiling deal? we may know a lot more soon. there's a plan floating around washington, stop lawmakers pay if there's no solution on the debt ceiling by the deadline day. >>> and this guy, he's teed off, the golfer phil michakelson tee off over his taxes. and he's not going to take it anymore, or is he? sue herera is live at the new york stock exchange. >> earnings are front and center with j & j, dupont, travelers all out with results....
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Jan 22, 2013
01/13
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joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away from fundamental investing in the equity markets. and so, there's a movement afoot, later on, actually beginning of next month, to have a roundtable discussion at the s.e.c. about a widening tick increments, adding bid offer spreads for small cap stocks and a way to try to drive liquidity back into the small cap market. >> my question is, if we did see a return of the individual investor and just more interest in the stock market, i argue was very low, still, even though we're getting close to highs on the -- >> i agree. >> i still think it's low. wouldn't that solve a lot of the
joining us now on set to talk equity market structure, and the debt ceiling. jeff solomon cowen & company ceo. let's start with, i'm intrigued now. equity market structure. what are you going to talk about now? how do you want to talk about that? >> well, i think, i mean, we've been talking for a little over a couple of years about how crazy the equity market structure has gotten in terms of fast speeding, electronic trading, high frequency trading and how basically we've gotten away...
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Jan 24, 2013
01/13
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CURRENT
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on the other hand they caved on the debt ceiling. so why did they cave on the debt ceiling. we have an expert on that. i think that's really interesting, and what do they plan to do on the budget fights instead. and then there is an unbelievable documentary on how wall street got away with clear criminal action. it's a devastating story. i can't wait to share it. >> jennifer: all right. cenk uygur "young turks" at the top of the hour. thanks, cenk. >> thank you. >> jennifer: now we're going to turn to a story about equality. located in the nation's capitol, washington national cathedral is the sixth largest cathedral in the world, and the second largest in the united states. it was built in 1792. it is magnificent. it has hosted many important events. it is also a place where local d.c. resident goes to pray and baptize their children and get married. and now for the first time in the institution's more than 200-year history, gay couples can officially get married at the cathedral too. here to tell us about this exciting development is the dean of the national cathedral, the
on the other hand they caved on the debt ceiling. so why did they cave on the debt ceiling. we have an expert on that. i think that's really interesting, and what do they plan to do on the budget fights instead. and then there is an unbelievable documentary on how wall street got away with clear criminal action. it's a devastating story. i can't wait to share it. >> jennifer: all right. cenk uygur "young turks" at the top of the hour. thanks, cenk. >> thank you. >>...
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Jan 24, 2013
01/13
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CURRENT
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when we come back, republicans caved on the debt ceiling. so what's next? >> announcer: radio meets television. the "bill press show." now on current tv. fund your healthcare. really? i want to have those conversations, not to be confrontational, but to understand what the other side is saying, and i'd like to arm our viewers with the ability to argue with their conservative uncle joe over the dinner table. i think the number one thing that viewers like about the young turks is that we're honest. they can question whether i'm right, but i think that the audience gets that this guy, to the best of his ability, is trying to look out for us. >> i'm pleased speaker boehner has decided to change course and pass the bill that over the debt ceiling. >> announcer: this is the "bill press show." >> bill: 13 minutes before the top of the hour on the "full court press" here this thursday morning. when we come -- in the top of the next hour rather, we'll be joined by lynn sweet from the "chicago sun times" as a "friend of bill." for the whole hour. and then former sena
when we come back, republicans caved on the debt ceiling. so what's next? >> announcer: radio meets television. the "bill press show." now on current tv. fund your healthcare. really? i want to have those conversations, not to be confrontational, but to understand what the other side is saying, and i'd like to arm our viewers with the ability to argue with their conservative uncle joe over the dinner table. i think the number one thing that viewers like about the young turks is...
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Jan 22, 2013
01/13
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what she has to say about the debt ceiling standoff. >>> what a week it is going to be. "squawk on the street" is back in a minute. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and consider it carefully before investing. risk includes possible loss of principal. >>> shares of research in motion are up sharply this morning, after the ceo said the ongoing review could potentially leetd to the sale of its handset business. plaque berry upgrades alone could in fact drive themes. the question in terms of if they do license their software platform, jim, who would they license to, since knockia is with microsoft, and samsung, motorola with android, so who is left to license w
what she has to say about the debt ceiling standoff. >>> what a week it is going to be. "squawk on the street" is back in a minute. twins. i didn't see them coming. i have obligations. cute obligations, but obligations. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock....
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Jan 22, 2013
01/13
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they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming up and john harwood is here with a preview before that meeting. >> reporter: interesting to see how john boehner describes it, but there are some signs that the whole debt ceiling threat as a source of instability for markets and the economy may be melting away before our eyes. house republicans are going to take up a bill tomorrow afternoon to extend the debt ceiling, not just to april 15, but to may 18. they are going to do it with a mechanism that would allow them in effect to suspend the debt ceiling, not even to raise it making it easier for conservatives to vote for it and senate democrats say they plan to take up that proposal and expect to pass it by an overwhelming margin sometime within the next week or so. now, jay carney at the white house today for his part said we wouldn't a longer term extension than that but the president is not going to block thi
they are teeing off this new debt ceiling bill. john boehner will be housing a meeting with key republican leaders at 5:00 p.m. eastern time. >> reporter: >> that's coming up and john harwood is here with a preview before that meeting. >> reporter: interesting to see how john boehner describes it, but there are some signs that the whole debt ceiling threat as a source of instability for markets and the economy may be melting away before our eyes. house republicans are going to...
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Jan 22, 2013
01/13
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FBC
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let's turn to the debt ceiling -- >> oh, we have a debt problem? lou: republicans make a a move to ends the nonsense. i hope you tell me tonight there's no discussion by the republicans whatsoever of shutting down the government, that this is going to stay positive and move forward. >> all i want is spending under control. that's what we campaigned on because we are bankrupting this nation. we cannot continue on this path. lou: congressman, we talked for years. >> sure. lou: i have heard that speech to the point that it makes me think you don't realize while you're in the majority, conservative republicans -- >> thank you. lou: that you don't realize fully that you're in a majority of a house that is only one-third of government. >> oh, listen, i get it, but nothing that raises revenue, nothing that provides money to any part of our government gets there unless the majority in the house pass it. lou: right. >> lou, that's leverage to bring spending under control. we've just finished two years where every fight we came up to, we were told, you know
let's turn to the debt ceiling -- >> oh, we have a debt problem? lou: republicans make a a move to ends the nonsense. i hope you tell me tonight there's no discussion by the republicans whatsoever of shutting down the government, that this is going to stay positive and move forward. >> all i want is spending under control. that's what we campaigned on because we are bankrupting this nation. we cannot continue on this path. lou: congressman, we talked for years. >> sure. lou: i...
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Jan 23, 2013
01/13
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there's a new debt ceiling plan from speaker john boehner and the house republicans that could force senate democrats to finally show their hand and pass a budget. plus it's only day four of president obama's second term, but joe biden is already commenting on possibly running for the top job himself in 2016. we'll show you what he said in a minute. first the new developments in the debate over guns in america. the national rifle association last night delivered a sharp response to president obama's inaugural address. speaking in reno, nevada, way waywayn wayne lapierre lashed out at one word from president obama. >> we cannot mistake absolutism, or treat name calling as reasoned debate. >> obama wants to turn the idea of absolutism into a dirty word, just another word for extremism. he wants you, all of you, and americans throughout all of this country, to accept the idea of principles as he sees fit. it's a way of redefining words so that commonsense is turned upside down and that nobody knows the difference. >> lapierre vowed not to give ground on gun control including efforts to
there's a new debt ceiling plan from speaker john boehner and the house republicans that could force senate democrats to finally show their hand and pass a budget. plus it's only day four of president obama's second term, but joe biden is already commenting on possibly running for the top job himself in 2016. we'll show you what he said in a minute. first the new developments in the debate over guns in america. the national rifle association last night delivered a sharp response to president...
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Jan 23, 2013
01/13
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they aren't about the fiscal cliff or the debt ceiling or the election. it is totally working this market. so i have to go back to the mathematical well. what can i tell you, we want to know what the queen thinks it could go next. take a look at this chart. the s&p said it would. and shortly thereafter she told us that the low was likely to be pivotal, as a key part of her methodology. you heard me talk about fibonacci ratios. these numbers are 23.6%. 38.2%. 50 % and 69.1%. it is eerie and according to many technicians it is a crucial turning point in price targets. and you apply the ratios that i mentioned and there is always an important level for that security. based on that low the s&p was ready to roar and she gave us a price target of 1510. last time we highlighted her work she said that if the s&p could break out it would be a straight line straight shot to her 1510 target. sure enough, i went back to her for info. so what does she think about the s&p prospects right now? since it took out the key high it made on december 18th before the big end of
they aren't about the fiscal cliff or the debt ceiling or the election. it is totally working this market. so i have to go back to the mathematical well. what can i tell you, we want to know what the queen thinks it could go next. take a look at this chart. the s&p said it would. and shortly thereafter she told us that the low was likely to be pivotal, as a key part of her methodology. you heard me talk about fibonacci ratios. these numbers are 23.6%. 38.2%. 50 % and 69.1%. it is eerie and...
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Jan 22, 2013
01/13
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FBC
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>> they took a baby step with this debt ceiling thing saying you pass a budget. the next step is to say, okay, as part of a program of fiscal responsibility, we have to do something about this going forward. the reality is, republicans do not have much leverage. they lack the courage of their own convictions. they are scared silly because they think they will lose elections that way. dagen: what is the game plan down the road, though? will they just wait until we are on the verge of these programs starting to run out of at least some money and then they will raise taxes on wealthier people to fund them? there has to be a long game plan >> you are talking about these politicians acting like adults and thinking long-term. i do not think there is a long-term game plan when it comes to dealing with entitlements. connell: paul krugman wrote a big piece about that. we do not have to do with it now, just put it off. >> just think about the debate that we are having right now. democrats are saying we need to raise taxes for government spending. it is medicare, social sec
>> they took a baby step with this debt ceiling thing saying you pass a budget. the next step is to say, okay, as part of a program of fiscal responsibility, we have to do something about this going forward. the reality is, republicans do not have much leverage. they lack the courage of their own convictions. they are scared silly because they think they will lose elections that way. dagen: what is the game plan down the road, though? will they just wait until we are on the verge of these...
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Jan 23, 2013
01/13
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the house voting today to extend the debt ceiling. we're in washington with a congresswoman who will have just cast her vote. >>> and you have heard by now that housing is recovering, but how do you make money in the rebound? we have some stocks that have benefited from the home renovation boom. we'll tell you which ones they are and whether you should be in or out. >>> speaking of being in or out, personal finance website learnvest shares its stories on a new version of "the power pitch" that's all today in a quarter half. now back to scott. >> it is the other big earnings report after the bell, netflix. the company has beaten the street the last eight quarters in a row and the stock has been on a tear. which means expectations are high. so let's take positions ahead of today's results. pete, what are we looking for here ? >> the four was all about the content, the buying of the content. now you need streaming subs to pay for it. >> and you have to have a number between a million and a half and two. if they can get in that range that
the house voting today to extend the debt ceiling. we're in washington with a congresswoman who will have just cast her vote. >>> and you have heard by now that housing is recovering, but how do you make money in the rebound? we have some stocks that have benefited from the home renovation boom. we'll tell you which ones they are and whether you should be in or out. >>> speaking of being in or out, personal finance website learnvest shares its stories on a new version of...
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Jan 22, 2013
01/13
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. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. we realize the president won the election. >> reporter: republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt limit, they want senate democrats to do something they have not done in four years, pass a budget. >> for us to have a debate about spending and debt, we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> reporter: senate democrats view a budget vote as an opportunity to raise more money through taxes. >> it's going to be a great opportunity. in our budget that we will pass we'll have tax reform, which many colleagues like but it will include revenues. >> reporter: the house is expected to approve the debt limit increase tomor
. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised. it's a move the president has demanded. >> i do believe it is a recognition of political reality. we realize the president won the election. >> reporter: republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve...
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Jan 24, 2013
01/13
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the debt ceiling is going up, we know that. the fiscal cliff was afraided. -- avoided. one presidential advisor says it is time for washington to do the real work to boost the economy. ed lazear is here next. tracy: nasdaq ceo bob greifeld weighs in on the new york stock exchange plans to tie up with nasdaq's former partner ice. liz claman talks with him in davos. that is coming up. first as we do every day at this time of day, let's look how oil is trading, up, just under 1%. $96 a barrel even. we'll be right back what's next? he's going to apply testosterone to his underarm. axiron, the only underarm treatment for low t, can restore testosterone levels back to normal in most men. axiron is not for use in women or anyone younger than 18. axiron can transfer to others through direct contact. women, especially those who are or who may become pregnant, and children should avoid contact where axiron is applied as unexpected signs of puberty in children or changes in body hair or increased acne in women may occur. report these signs and symptoms to your doctor if they occur
the debt ceiling is going up, we know that. the fiscal cliff was afraided. -- avoided. one presidential advisor says it is time for washington to do the real work to boost the economy. ed lazear is here next. tracy: nasdaq ceo bob greifeld weighs in on the new york stock exchange plans to tie up with nasdaq's former partner ice. liz claman talks with him in davos. that is coming up. first as we do every day at this time of day, let's look how oil is trading, up, just under 1%. $96 a barrel...
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Jan 24, 2013
01/13
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i think the debt ceiling punt was the latest example of this. the president says, if we don't do this the market is going to implode and congress puts its tail between it legs. i haven't heard anything from s&p or moodies who say we want the debt ceiling to go higher. everybody watching this show who has cut back 0, government has to learn how to do the same thing. it's cowardly in washington to continue to hide behind the notion that we're going to collapse overnight as a nation if we don't keep spending ourselves to death. >> i agree. congressmen have basically sent a message that today is not the day we're going to stop spending our children's and grandchildren's money, and charles is exactly right. the reason why our credit got downgraded is because of our out of control spending and out of control debt. the fiscal cliff deal even we just witnessed, it's such -- added four trillion dollars to our deficit over the next ten years. so, congress is not serious about reigning in spending and that's exactly when the we need to too. >> but they're
i think the debt ceiling punt was the latest example of this. the president says, if we don't do this the market is going to implode and congress puts its tail between it legs. i haven't heard anything from s&p or moodies who say we want the debt ceiling to go higher. everybody watching this show who has cut back 0, government has to learn how to do the same thing. it's cowardly in washington to continue to hide behind the notion that we're going to collapse overnight as a nation if we...
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Jan 24, 2013
01/13
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the debt ceiling is the limit on how much the feds can borrow. republican leaders were refusing to raise it without an equal amount of spending cuts. but the bill they just passed has a new ultimatum for the house and the senate. no budget, no pay. carl cameron in the d.c. newsroom tonight. how is this supposed to break the gridlock? >> hey, shep. it's basically a two-part deal. the first says by april 15th, both the house and the senate each have to pass a budget that balances in 10 years. should either chamber fail then its members paychecks can't be delayed. they can't stop it constitutionally they have to get paid. the other part suspends enforcement of the federal debt limit until may 19th, at which point it will increase retroactively without any offset in spending cuts. here is how speaker john boehner summed it up today. >> you know, the premise here is pretty simple. it says that there should be no long-term increase in the debt limit until there is a long-term plan to deal with the fiscal crisis that faces our country. >> and now the de
the debt ceiling is the limit on how much the feds can borrow. republican leaders were refusing to raise it without an equal amount of spending cuts. but the bill they just passed has a new ultimatum for the house and the senate. no budget, no pay. carl cameron in the d.c. newsroom tonight. how is this supposed to break the gridlock? >> hey, shep. it's basically a two-part deal. the first says by april 15th, both the house and the senate each have to pass a budget that balances in 10...
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Jan 29, 2013
01/13
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FBC
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that pushes the debt ceiling to may 18th. the back end of number of cliffs upcoming in the calendar. look here at the government deadlines the congress and white house are facing right now. first, march 1st are the automatic spending cuts known as the sequester. they begin to hit the federal budget. that is something that takes place over the course of the year and is gradual. march 27th, that is when government spending runs out. or a large chunk of it. if there is no agreement on that, that could shut down the federal government. you're looking at debt ceiling all the way on may 18th. congressional aides saying treasury is telling them pause of extraordinary measures they can use, this pushes the debt ceiling day back to sometime this summer perhaps if this is a bill that clears congress and the senate is going to consider it the next couple of days and likely it does pass of the because the debt ceiling is pushed off and the next real fast deadline is march 27th, that government spending deadline, analysts say that increas
that pushes the debt ceiling to may 18th. the back end of number of cliffs upcoming in the calendar. look here at the government deadlines the congress and white house are facing right now. first, march 1st are the automatic spending cuts known as the sequester. they begin to hit the federal budget. that is something that takes place over the course of the year and is gradual. march 27th, that is when government spending runs out. or a large chunk of it. if there is no agreement on that, that...
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Jan 24, 2013
01/13
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the house averted the debt ceiling fight. at least some republicans. 33 members of the house gop still broke rank. by averting, we, of course, mean punting the ticking time bomb three months down the road. >> another 90 days away so we can continue to royle this congress, this country, our people, and our economy. >> we should not even be having a debate. it should be no doubt that the full faith and credit of the united states will be honored, and that is what our constitution says. >> the gimmick nature of this whole thing i won't elaborate on, has been done before. >> either way, the passage of this bill has allowed lawmakers to skip from brinkmanship to probably more brinkmanship. looming just over the horizon is a budget battle that could shut down the government and automatic steep spending cuts that could cost thousands of jobs. welcome to the new normal in washington. joining us now from davos, switzerland, is cnbc's squawk box co-host "new york times" columnist and author of too big to fail, andrew ross sorkin. it is
the house averted the debt ceiling fight. at least some republicans. 33 members of the house gop still broke rank. by averting, we, of course, mean punting the ticking time bomb three months down the road. >> another 90 days away so we can continue to royle this congress, this country, our people, and our economy. >> we should not even be having a debate. it should be no doubt that the full faith and credit of the united states will be honored, and that is what our constitution...
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Jan 23, 2013
01/13
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there is word of what may be a break through in the standoff over the so-called debt ceiling. the point where our nation can no longer pay its bills. house republicans are set to vote tomorrow on a temporary fix, which would raise the federal spending limit. now the white house says it won't stand in the way of that: even though the president says he would rather see the problem fixed once and foreall. the g.o.p. measure would buy us only a few months before congress would have to agree to a long-term solution. a second part of the proposal would force lawmakers in both houses of congress to pass a budget or they wouldn't even get paid. that's the g.o.p. attempt to force the senate's hand the democratic led senate hasn't passed a budget in four years now. mike emanuel son the top story at the bottom of the hour. live with us from the row rotuna on capitol hill. mike, house republicans meeting behind closed doors late today. have we heard anything? >> well, shep, some conservatives don't love this debt ceiling deal because they don't like the idea of adding to the nation's cred
there is word of what may be a break through in the standoff over the so-called debt ceiling. the point where our nation can no longer pay its bills. house republicans are set to vote tomorrow on a temporary fix, which would raise the federal spending limit. now the white house says it won't stand in the way of that: even though the president says he would rather see the problem fixed once and foreall. the g.o.p. measure would buy us only a few months before congress would have to agree to a...
WHUT (Howard University Television)
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Jan 25, 2013
01/13
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[applause] i'm trying to imagine -- we talked earlier about the fiscal cliff and debt ceiling. it is clear there is legislative gridlock in this town. what happens in the months to come with this kind of gridlock -- we already see the battle lines being drawn about what is to happen when these entitlements did on the table with in march. what happens to the poor as you see it in the coming months? >> let me first say, thank you so much for allow me to be part of this conversation. i am happy that you have been carrying on this kind of conversation over the last few years. let me try and see if i can put something in context for you -- i think that is something we never really talk about. a lot of this fiscal cliff stuff is really smoke and mirrors -- when you sit back and realize the largest portion of the debt of this country is really three things -- one is two wars we never paid for, what is a medicare part that we never paid for, and the other part is the bush tax cuts. those of the largest portions of the debt of this nation. what they're trying to do now by cutting what y
[applause] i'm trying to imagine -- we talked earlier about the fiscal cliff and debt ceiling. it is clear there is legislative gridlock in this town. what happens in the months to come with this kind of gridlock -- we already see the battle lines being drawn about what is to happen when these entitlements did on the table with in march. what happens to the poor as you see it in the coming months? >> let me first say, thank you so much for allow me to be part of this conversation. i am...
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Jan 22, 2013
01/13
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he was clearly referring to the fact that they've moved off the fight on the debt ceiling a few months. he believes he can deal with them and, as you heard, get some kind of grand bargain. i need to be convinced of that, wolf. >> part two of your interview coming up later. >> he tells us, how does he know when the president is mad at him. >> interesting to see that. thank you. good work. >>> in a moment, the latest on the breaking news we've been following a shooting at a community college in houston, texas. there's going to be a news conference from the sheriff there. we'll update you with what is going on. humans. even when we cross our t's and dot our i's, we still run into problems. namely, other humans. at liberty mutual insurance, we understand. that's why our auto policies come with accident forgiveness if you qualify, where your rates won't go up due to your first accident, and new car replacement, where, if you total your new car, we give you the money for a new one. call... to talk to an insurance expert about everything else that comes standard with our base auto policy. and
he was clearly referring to the fact that they've moved off the fight on the debt ceiling a few months. he believes he can deal with them and, as you heard, get some kind of grand bargain. i need to be convinced of that, wolf. >> part two of your interview coming up later. >> he tells us, how does he know when the president is mad at him. >> interesting to see that. thank you. good work. >>> in a moment, the latest on the breaking news we've been following a shooting...
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Jan 22, 2013
01/13
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. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised, a move the president has demanded. >> it's believe it's a recognition of political reality. we realize the president won the election. >> republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt limit, they want senate democrats to do something they have not done in four years, pass a budget. >> for us to have a debate about spending and debt we've got to have the focus be on a budget and what we're going to do to achieve a balanced budget over time. >> senate democrats view a vote as an opportunity to raise more money through taxes. >> it's going to be a great opportunity for us, because in our budget that we will pass, we will have tax reform which many of my republicans like but it will include revenue. >> the increase will likely happen tomorrow. >>> one other provision of the debt limit
. >> reporter: republicans are offering a compromise on the debt ceiling, house g.o.p. members are backing off a requirement to cut $1 of spending for every dollar the debt ceiling is raised, a move the president has demanded. >> it's believe it's a recognition of political reality. we realize the president won the election. >> republicans on capitol hill are not voting to raise the debt ceiling without getting something in return. they say in order to approve a higher debt...
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Jan 23, 2013
01/13
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it could be a key to the house vote today on the debt ceiling battle. nancy cortes is on capitol hill. good morning. >> reporter: good morning. that vote is set to take place in the next couple hours. this is the week we thought the big fight over raising the debt ceiling was going to get under way. that's something senate democrats haven't managed to do since 2009. no budget, no pay. that is the message from the house republican leader. >> americans believe if you don't do your job, you shouldn't get paid. that's the basis for no budget, no pay. >> reporter: the bill they will be voting on today calls for a temporary suspension of the debt ceiling until mid-may, but it requires the house and senate to craft budgets by april while members' salaries will be held in escrow. paul ryan explains the strategy. >> in the house, democrats and republicans have been leading by offering budgets and offering alternatives. the senate hasn't even done that. all we're saying is let's get the senate in here to do that to see how we're going to figure out the problem no
it could be a key to the house vote today on the debt ceiling battle. nancy cortes is on capitol hill. good morning. >> reporter: good morning. that vote is set to take place in the next couple hours. this is the week we thought the big fight over raising the debt ceiling was going to get under way. that's something senate democrats haven't managed to do since 2009. no budget, no pay. that is the message from the house republican leader. >> americans believe if you don't do your...
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Jan 22, 2013
01/13
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earnings, is it going to be debt ceiling talks? basically, is it macro? >> well, i think today and tomorrow is going to tell us a lot. i want to see how google's earnings affect the nasdaq and in turn how the s&p reacts to that. and then tomorrow we have apple. i want to see how apple comes out. is apple going to take out the recent low of 43 and change? and how does the nasdaq react to that? and then what does the s&p react to the nasdaq? right now, i feel the s&p rally is going to be held hostage by the nasdaq. if google and apple can sustain their ground, then i think we keep going up. if they start to pull back, buyer hes in the s&p is going to say why buy them today if they're going on sale tomorrow? >> 483, we know the levels to watch for apple. anthony, thanks. >> thank you. >>> before we go, pro golfer fill michaelson has said he will make drastic changes because of several recent u.s. california and state tax hikes. the four-time major winner says he may move out of california or even retire. mickelson says if you add up everything, his tax rate
earnings, is it going to be debt ceiling talks? basically, is it macro? >> well, i think today and tomorrow is going to tell us a lot. i want to see how google's earnings affect the nasdaq and in turn how the s&p reacts to that. and then tomorrow we have apple. i want to see how apple comes out. is apple going to take out the recent low of 43 and change? and how does the nasdaq react to that? and then what does the s&p react to the nasdaq? right now, i feel the s&p rally is...
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Jan 24, 2013
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ceiling. >> thanks so much, bill. we are talking economy and politics with representative eric cantor right now, and representative, great to have you on the program. >> great to be here with you. >> thank you so much for joining us. >> let's get right to t.yesterday or this week rather the house passed a debt limit extension until mid-may. what does that buy us? >> well, what is buys us is a time for this debate about borrowing and spending to really develop into what i hope will be a robust discussion that will yield some results. we know that for almost four years the united states senate has not passed a budget, and that's part of the problem that's been contributing to the out-of-control spending in washington, and what we've said is we will extend the debt ceiling for three months to allow time for the united states senate to write a budget so we can then begin the discussions on how we're going to repay this money that we're going to borrow as well as begin to manage down the debt long term. >> what's the reali
ceiling. >> thanks so much, bill. we are talking economy and politics with representative eric cantor right now, and representative, great to have you on the program. >> great to be here with you. >> thank you so much for joining us. >> let's get right to t.yesterday or this week rather the house passed a debt limit extension until mid-may. what does that buy us? >> well, what is buys us is a time for this debate about borrowing and spending to really develop into...
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Jan 23, 2013
01/13
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punting the debt ceiling. a vote is going to go through today. >> punting it down three more months. >> hal: a three-month wait to deal with -- >> because why get done today what you can put off? >> hal: because people are still glowing in the aftermath of the inauguration. people are still recognizing the president -- their message that the president isn't interested in deficits and handling it because he did mention it in his inauguration. he did mention doing in a balanced approach and the american people agree with him on that part. so if they have to act on it in the next week, people are still that much engaged. they're hoping in three months the american public will disengage enough for them to create another false narrative. >> so when we talk about rating the debt ceiling. we've already racked up the bills and we have to pay them. that's an obvious -- that's the fact. >> hal: right. >> they like to combine the two right and make it about future spending and paying off the bills. the president says it
punting the debt ceiling. a vote is going to go through today. >> punting it down three more months. >> hal: a three-month wait to deal with -- >> because why get done today what you can put off? >> hal: because people are still glowing in the aftermath of the inauguration. people are still recognizing the president -- their message that the president isn't interested in deficits and handling it because he did mention it in his inauguration. he did mention doing in a...
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Jan 24, 2013
01/13
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and we'll up the debt ceiling? >> i will. i also think that it's important that we get this issue behind us. we get the sequestration stopped. we get this whole fiscal cliff, cr addressed, the continuing resolution keeping the government in business because it just sends a wrong message to businessmen and women, small and large in our country. we need to have a path to a balanced budget and we need to cut spending and we need to reform entitlements. that's what we need to do. >> alisyn: senator, let's talk about what happened on capitol hill yesterday with secretary clinton, came in front of you to talk about benghazi. what did you learn yesterday? >> not much. not much. she was feisty, according to the main stream media. she obviously has an adoring media. she really didn't answer any questions. her response to senator johnson about whether there was a spontaneous demonstration or not, saying it didn't matter. it didn't matter how these people died? that was stunning. that was really stunning. of course it matters. it matter
and we'll up the debt ceiling? >> i will. i also think that it's important that we get this issue behind us. we get the sequestration stopped. we get this whole fiscal cliff, cr addressed, the continuing resolution keeping the government in business because it just sends a wrong message to businessmen and women, small and large in our country. we need to have a path to a balanced budget and we need to cut spending and we need to reform entitlements. that's what we need to do. >>...
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Jan 22, 2013
01/13
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they will hit the debt ceiling mid-february. this pushes this whole thing back a couple months. doug mckelway is live in washington with the story. doug, surprise, surprise, right? >> reporter: surprise, surprise, martha. this is the no budget, no pay bill. it would suspend the debt limit until may 19th at which time the debt limit would automatically increased beyond the present $16.4 trillion to accommodate whatever the u.s. borrowed at that time. it makes the extra borrowing contingent upon this. if either chamber of congress fails to pass a budget by april 15th. all income earned by members of that respective chamber would be settle aside. no budget, no pay. republicans ha been frustrated by the senate's failure to pass a budget the last four years. in his inaugural address yesterday some say the president set a not so conciliatory tone about the debt ceiling and other impasses with the gop-controlled house. >> we can not mistake absolutism for principle or substitute speckel for politics, or treat name-calling as reasoned debate. >> reporter: couple blocks away at a breakfa
they will hit the debt ceiling mid-february. this pushes this whole thing back a couple months. doug mckelway is live in washington with the story. doug, surprise, surprise, right? >> reporter: surprise, surprise, martha. this is the no budget, no pay bill. it would suspend the debt limit until may 19th at which time the debt limit would automatically increased beyond the present $16.4 trillion to accommodate whatever the u.s. borrowed at that time. it makes the extra borrowing contingent...
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Jan 23, 2013
01/13
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house republicans pushed through a bill to extend the debt ceiling and tying congressional pay to passage of the budget. senate majority leader says he is okay with it. outgoing defense secretary leon panetta is changing policy to allow women to serve in front line combat positio positions. we'll get a live update for the pentagon. your tax dollars are sending f-16 planes to egypt despite anti-semattic comments made by egypt's new leader. busy day on "special report" at 6:00 eastern but now back to "the five." ♪ ♪ >> bob: you were saying? >> dana: so, greg, almost just caused a problem on the show. >> greg: no, i didn't. >> dana: yes, you did. wow! he doesn't know the words to that song and he was making them up. there is a certain word that rhymes with "truck" he was going to sing. i was supposed to talk about facebook and social media how it can be a blessing and a curse. we talk about this the other day. so, remember back in high school, if you found out that your friend invited another friend go to an event but you didn't necessarily know about it right away. it wasn't rubbed in y
house republicans pushed through a bill to extend the debt ceiling and tying congressional pay to passage of the budget. senate majority leader says he is okay with it. outgoing defense secretary leon panetta is changing policy to allow women to serve in front line combat positio positions. we'll get a live update for the pentagon. your tax dollars are sending f-16 planes to egypt despite anti-semattic comments made by egypt's new leader. busy day on "special report" at 6:00 eastern...